MANILA – The Philippine Stock Exchange (PSE) is encouraging the entry of more small and medium enterprises (SMEs) into the stock market in a bid to also promote good governance.
“We have to see the benefits of these things not just because they need to raise money but really the long-term benefits — the governance. SME is really a governance story,” said PSE chief operating officer Roel Refran.
Refran, who is also the chairman of the Capital Market Development Committee of the Philippine Chamber of Commerce and Industry (PCCI), said the country is continuously undertaking various initiatives to perk up the interest of the SMEs to list on the local bourse.
He said they conduct small roundtable sessions and market education conferences for the SMEs.
“The question always is: Do they need the funds? We tell them that if you don’t need the funds, for you to value your company, listing is the right way to go,” he said.
As it takes enough time for the SMEs to prepare for a public listing, Refran expressed hope that more SMEs would list on the bourse in two to three years.
“Right now, we have only four. My target is for that to be 10 hopefully in the next two to three years,” he added.
Meanwhile, the Capital Market Development Committee was organized by the PCCI and the PSE through a memorandum of understanding meant to promote efficient practices that would enable businesses, particularly SMEs, to consider raising funds through the capital markets for growth and expansion. pna
Disclaimer
Mindanao Gold Star Daily holds the copyrights of all articles and photos in perpetuity. Any unauthorized reproduction in any platform, electronic and hardcopy, shall be liable for copyright infringement under the Intellectual Property Rights Law of the Philippines.
